|Recently I showed some homes to a couple of new buyer clients of mine here in Rochester, Minnesota. Rochester's real esate market is the largest single city's market witin the southeast Minnesota real estate market. Other cities in this market include Austin, Albert Lea, and smaller Rochester suburb communities such as Byron and Stewartville. I had not looked in the price category they were in for a couple of months but I thought there would be more homes to look at since spring had now sprung. It didn't take very long to realize that the houses available in that price range were not as plentiful as they were this winter! Hopefully for my buyers, something will come on the market that fits their requirements and also meets their desires soon.
In the meantime I decided to check the numbers, and sure enough there are less homes on the market than their were at this time last year and the median sale price has gone up. Maybe southeast Minnesota's real estate market has hit rock bottom finally! With low interest rates as well as low home prices, it certainly has plenty of reason to!
If anyone is interested in updated numbers please don't hesitate to call or email me for the current market statistics! Any other market related questions are also kindly invited.
Here are the numbers for our latest completed month, April, 2012:Summary Statistics from the Southeast Minnesota Association of Realtors:
|Apr-12||Apr-11||% Chg||2012 YTD||2011 YTD||% Chg|
|Average List Price||$185,759||$176,882||5.02||$175,741||$168,415||4.35|
|Median List Price||$149,900||$144,900||3.45||$144,900||$139,900||3.57|
|Average Sale Price||$147,618||$140,681||4.93||$140,567||$131,672||6.76|
|Median Sale Price||$132,500||$120,000||10.42||$125,000||$114,000||9.65|